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International research shows that unnecessary complexity in small or large businesses reduces profits, productivity and morale. Business simplification removes the complexity and increases profits. You have a choice - more complex and fragile, or simpler and thriving! Which would you and your workforce prefer?
If you're a business owner or manager searching for an injection of performance to your business, you've probably tried a range of things such as sophisticated marketing techniques, productivity improvement processes that include information systems and waste reduction programs, employee incentive schemes to get your people motivated, new product development to give your customers more choice and financial restructuring to take advantage of changes in interest and tax rates.
If you’ve done any of these things and haven’t seen the benefits you were hoping for, it’s time to think and act differently! The business world is getting more complex for a range of reasons, so it’s vital to know how to capitalize on the good complexity and remove the unnecessary complexity so you can build a more profitable and resilient business.
Unnecessary complexity kills profitability and makes a business more fragile in the face of changing conditions – it’s been known for over a century. The latest example of this was the Global Financial Crisis of 2008 where the early companies to fail were ones that were too complex in their structures or their products.
Conversely, keeping business focused and simpler has been shown to deliver more profits, sustainability and staff morale, whether the economy is in good shape or not. Here’s some examples of how the strategy of simplification has delivered wonderful business performance over 140 years:
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